Multi-Building Strip Mall
For Sale
$2,195,000
7440 Post Road, North Kingstown, RI 02852
Commercial/Business,Commercial Sale, North Kingstown, RI
Property Size9,780 SF
Lot Size1.77 Acres
Price / SF$224.44
Days on Market36
Property Features for 7440 Post Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PR
Parking
50
Interior features
Ceiling Height (7 to 9 Ft)
Lot features
Paved, Underground Utilities, Free Standing, Shopping Mall, Strip Store, Suburban, Urban
Standard status
Active
Size
9,780 SF
Lot size
1.77 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12236
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Floors in Building
1
Number of units
8
Building materials
Brick, Frame, Masonry
Listing Agency:
Ri Real Estate Services
(401) 885-5400
Listed By:
Michael Russo · License #REB.0017244
(401) 465-0417
Added: Jul 23
Changed: Aug 19
Last Checked: Aug 27 at 2:06AM
MLS# 1418568
Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,780-square-foot retail property occupies a 1.77-acre parcel and includes two single-level strip mall buildings along with a separate freestanding mixed-use structure. The layout provides 7–8 units and 50 parking spaces. Built in 1970, the improvements feature brick, frame, and masonry construction, forced-air heating, central air, and ceiling heights ranging from 7 to 9 feet.
The property is located at 7440 Post Road in North Kingstown, with access to Quonset, Wickford, South County, and nearby highways. The site is positioned near hundreds of existing and new residential dwellings. PR zoning supports a range of stated commercial possibilities, including retail, QSR or fast-food operations, and office use. Public water and public sewer serve the property, while each unit has separate electric and natural-gas metering.
The property is located at 7440 Post Road in North Kingstown, with access to Quonset, Wickford, South County, and nearby highways. The site is positioned near hundreds of existing and new residential dwellings. PR zoning supports a range of stated commercial possibilities, including retail, QSR or fast-food operations, and office use. Public water and public sewer serve the property, while each unit has separate electric and natural-gas metering.
Key Highlights
- 1.77‑acre parcel with 9,780 square feet of improvements
- Configuration includes two single‑level strip malls and one freestanding mixed‑use building
- 7–8 units with 50 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$99,164
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,983,280
$2.0M
Cap Rate 7%
$1,416,629
$1.4M
Cap Rate 9%
$1,101,822
$1.1M
Market Conditions
NOI Build-Up for 9,780 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$147.9K $15.12/SF
− Vacancy
−$6.2K −$0.64/SF
EGI
$141.7K $14.48/SF
− OpEx
−$42.5K −$4.35/SF
NOI
$99.2K $10.14/SF
Area
Washington County, RI
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,983,280
Cap Rate 7%
$1,416,629
Cap Rate 9%
$1,101,822
Alternative Uses
Best Use
Retail
$1.42M
$1.24M – $1.65M
NOI $99,164 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.95M
$1.71M – $2.28M
NOI $136,783 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
288
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 68%
Dining 32%
7-Eleven
Shops & Services
13,431 visits/mo
0.3 miles
Newport Creamery
Dining
7,835 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
3,276 visits/mo
0.2 miles
Demographics for 02852, RI
23,579
Population
10,589
Households
2.2
Avg Household Size
47
Median Age
49%
College-Educated
96%
High-School Grad
30.8 sq mi
ZIP Area
766
Density / Sq Mi
$112,457
Median Household Income
$60,020
Median Earnings
$1,188
Median Rent
$461,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - PR-zoned retail property with multiple buildings, separate utility metering, public sewer service, and on-site parking.
Where is this strip mall located?
The property is located at 7440 Post Road North Kingstown, RI.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 1.77‑acre parcel with 9,780 square feet of improvements; Configuration includes two single‑level strip malls and one freestanding mixed‑use building; 7–8 units with 50 on‑site parking spaces
